Vuele Hints at Future of NFT-Based Film Distribution
Zero Contact, a sci-fi film starring Anthony Hopkins, will skip a theatrical release and instead premiere as an NFT. Described as the “world’s first feature film NFT event”, it reveals how blockchain technology could revolutionise the way Hollywood films are distributed.
The film will debut via LA-based Vuele, a direct-to-consumer viewing platform delivering feature films and collectible entertainment content as NFTs. A joint venture between blockchain developer CurrencyWorks and producer Enderby Entertainment, the platform enables users to buy limited-edition films and content to watch, sell and trade.
Setting a new standard for how movies are consumed, a limited run of Zero Contact tokens will be released, with extras such as never-before-seen footage varying from token to token depending on the price. Buyers will be able to watch the film on Vuele, as well as trade or sell their copy.
The first 11 digital copies of Zero Contact will be auctioned on September 24 on OpenSea, a New York-based NFT marketplace that reported a 640% increase in trading volume in August 2021 (DappRadar, 2021). As the NFT market is driven by scarcity, the first drop will include the Zero Contact Platinum Edition, only one of which will ever be minted.
To open itself up to everyday film fans, rather than just high-end collectors, Vuele has launched a sweepstake randomly distributing 100 Golden Tickets, which double as access passes to the platform's first four wide-release film NFTs.
With NFTs continuing to surge in popularity, the film business is waking up to their potential – much like other creative industries. While this has initially seen film franchises leverage tokenisation for digital artworks, Vuele’s goal is to create a new style of streaming platform and develop an alternative business model for future releases.
For more on the evolving use cases of NFTs, see Are NFTs the Future of Art?